Please review the lesson text below, then test your knowledge on Agency, here.
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Question 1 of 6
Which three things are required in an agency relationship?
agent, broker, customer
agent, buyer, customer
agent, broker, client
agreement, benefit, control
Question 2 of 6
Which of the following terms best describes the relationship between an agent and principal?
client relationship
customer relationship
fiduciary relationship
confederate relationship
Question 3 of 6
When a licensee represents a buyer or seller (but not both), this is now considered:
dual agency
a fiduciary relationship
a DTR
a platonic relationship
Question 4 of 6
A client is defined as:
an unrepresented buyer
an unrepresented seller
the immediate family member of a licensee
a person employing an agent to perform service for a fee
Question 5 of 6
A customer is understood to be:
a seller represented by an agent
a seller unrepresented by an agent if the buyer is represented
the immediate family member of a client
Question 6 of 6
All of the following are duties of an Agent except:
obedience
honesty
accounting
subservient